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SIBUR climate change rating above the average for European companies

December 23/2020

MOSCOW (MRC) -- The international Carbon Disclosure Project (CDP) has published the results of an independent assessment of Russian companies in terms of their climate performance, and the climate ratings assigned to them, said the company.

In 2020, SIBURs score improved from C (awareness level) to B (management level). This result exceeds both Europes average rating (C) and the average score among global chemical companies (C). Over 9,600 companies across the world disclosed their environmental data to CDP this year.

CDP assesses companies on the comprehensiveness of their disclosure, their awareness and management of environmental risks and their demonstration of best practices associated with environmental leadership. Of all the categories assessed, CDP analysts assigned the highest score (leadership level) to SIBURs corporate governance processes and approaches to climate change risk management.

Every year, SIBUR discloses detailed information on its climate change performance and action. Precise targets for reducing GHG emissions are part of the Companys sustainable development strategy, which is mandatory for the management under its performance assessment metrics. With the Management Board and Board of Directors now having their own Sustainable Development Committees, the climate change agenda has moved to the highest level at SIBUR Holding.

Verifying GHG emissions and measuring certain categories of emissions indirectly related to the Companys operations (Scope 3) also contributed to the improved rating.

Alexey Kozlov, member of the Management Board and Managing Director at SIBUR, said: Climate risk management has long since become a staple of responsible business practices. The leading companies are shifting focus towards carbon neutrality and circular economy. We can see how the petrochemical industry is coming up with effective solutions to fight global warming. SIBURs sustainable development strategy does not only include a set of climate impact mitigation targets, but also paves the way for the development of technologies for the recycling and reuse of advanced synthetic materials. Next year we will also focus on quantitative assessment of climate risks and building stronger climate change partnerships across the supply chain."

As per MRC, LyondellBasell, the worlds leading licensor of polyolefin technologies, announced that the Amur Gas Chemical Complex project, being implemented by SIBUR Holding PJSC, the largest integrated petrochemicals company in Russia, has selected LyondellBasells Spheripol technology for a new facility.

According to MRC's DataScope report, Russian companies increased external purchases of polypropylene in November, imports reached 20,400 tonnes against 17,900 tonnes a month earlier. Thus, overall PP imports into Russia reached 202,000 tonnes in January-November 2020, compared to 167,400 tonnes a year earlier. Purchasing of all grades of propylene polymers in foreign markets increased, with homopolymer PP imports accounting for the most noticeable rise.
Author:Anna Larionova
Tags:petroleum products, crude oil, neftegaz, petrochemistry, Sibur Holding.
Category:General News
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